Single-family home prices continued to jump in the Bay Area in September, with the numbers suggesting the "move-up" buyer is back, the latest sign of the market's strength.
From the article:
The region saw double-digit price increases, according to a report Monday from DataQuick, a real estate information company. The biggest surge -- 21 percent -- came in homes costing $500,000 or more, partly because homeowners appear to be selling their houses to move up to more expensive ones. "More people, at least in the Bay Area, are feeling good enough about the economy, secure enough in their jobs, to step off the sidelines and buy a house, particularly move-up buyers," said Andrew LePage of DataQuick. "More people are worrying less about prices going down in the future. That's our sense of how the psychology has changed in the last year."